Business

Wage theft law ‘will do nothing to help underpaid’

Proposed changes to workplace legislation would place an additional burden on business, says Ai Group chief executive.

19 April 2023 • By Josh Needs

more from tag

Tax

Give $3m-plus super balances free rein to restructure: NTAA

Tax-free, age-unrestricted withdrawals should be allowed before the extra tax is imposed, says accounting body.

18 April 2023 • By Philip King

Super

ASIC bans director for illegal super access schemes

Websites run by the Gold Coast man promoted using retirement funds for buying a home or paying down debt.

17 April 2023 • By Philip King

Business

More flexible parental leave ‘could hobble small business’

Ad hoc days off or minimum notice periods would make the proposals unworkable, says sector representative body COSBOA.

18 April 2023 • By Josh Needs

Technology

Small business scam losses almost double in 2022

Small and micro businesses lost $13.7 million to scams last year, with payment redirection scams accounting for the...

18 April 2023 • By Miranda Brownlee

Regulation

Cleaning firm penalised over $120k for exploiting visa workers

The FWO found the company had underpaid two visa holders and provided false records to investigators.

18 April 2023 • By Josh Needs

Regulation

Rid nation of money laundering stain, Canberra told

Dirty money hurts everyone and the second tranche of legislation is now long overdue, says software specialist First...

17 April 2023 • By Philip King

Tax

Trust in eligibility checklist when it comes to MITs, ATO warns

The ATO will be notifying accountants where an ineligible trust type has wrongly claimed status.

17 April 2023 • By Philip King

Super

Strategy for $3m super tax hinges on access phase

The IPA says those who have met a condition of release will have greater flexibility with their assets.

17 April 2023 • By Keeli Cambourne

Tax

Social media side hustles all count as income, ATO warns

Many clients will need reminding by their accountants that they have to declare secondary sources of income, including...

14 April 2023 • By Josh Needs

Tax

ATO boosts data-matching arsenal to close $1.3bn rental property gap

Nine out of 10 rental claims are wrongly filed but the Tax Office is cracking down on compliance in a move that gets a...

14 April 2023 • By Josh Needs and Philip King

Appointments

AFCA racks up $1bn in refunds, reappoints CEO

The financial complaints body says it has never been more needed with 100,000 issues this year alone.

14 April 2023 • By Philip King

Regulation

Salon penalised almost $300k for abuse of a visa worker

The FWO found the hairdressing salon had underpaid the worker and required her to make cashback payments to assist her...

14 April 2023 • By Josh Needs

Regulation

ACCC calls for more ammunition to prevent uncompetitive mergers

Legal reform is essential to prevent companies pushing the boundaries of Australia’s informal regime, chair of...

13 April 2023 • By Philip King

Business

Data-hungry businesses must be alert to risks

Firms are torn between the advantages of accumulating information and the increased liability that comes with it, says...

13 April 2023 • By Josh Needs

Business

EY scraps plans to split, but recommits to the idea

Opposition from its US division has derailed a scheme to divide the firm, but an email to partners says the goal...

13 April 2023 • By Philip King

Tax

ATO adds PAYGW prefill to activity statements

In the 2023–24 financial year, 3,000 employers will also be randomly selected to receive reminders regarding the...

13 April 2023 • By Josh Needs

Tax

Accountants must alert clients to LMITO, remind them who to blame

Alarm bells in the media could mean angry clients, so tax agents need to explain the change or risk being a target.

12 April 2023 • By Josh Needs